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Nov 8, 2012
11/12
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today she and others urged a solution to the so-called fiscal cliff, the automatic federal budget cuts that are set to kick in at the end of the year. >> the largest job loss is california, 220,000 jobs, 130,000 are related to defense. so if there is a hatchet used, california is the state most hurt. >> dianne feinstein said leaders of congress along with the president should look for a compromise to avoid cuts. >>> coming up, the promises republican leaders are making about the next 4 years under a democratic president. >>> police made a second arrest in the vandalism case. he was taken into custody this morning. he is facing charges relating to the destruction of a muni bus at market and third street on october 29. that cost muni a million dollars. police say they are still looking for two more suspects. >>> a jury today convicted a man of shooting and killing his ex-girlfriend and her friend near the richmond-san rafael bridge toll plaza. nathan burris admitted he committed the murders in august of 2009. he killed the toll taker and her friend as he sat in his truck. the penalty pha
today she and others urged a solution to the so-called fiscal cliff, the automatic federal budget cuts that are set to kick in at the end of the year. >> the largest job loss is california, 220,000 jobs, 130,000 are related to defense. so if there is a hatchet used, california is the state most hurt. >> dianne feinstein said leaders of congress along with the president should look for a compromise to avoid cuts. >>> coming up, the promises republican leaders are making...
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Dec 1, 2012
12/12
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MSNBCW
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in a moment the fiscal cliff cuts that could affect people in a fight for their lives. you're watching "weekends with alex witt." you're watching weekend with add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> today is world aids day when people around the globe come together to show their support for the millions who have died from the disease and for those who are living with it. incredible advancements have been made, but a new report finds that budget cuts included in the fiscal cliff could cost aids and h.i.v. programs nearly 700 million in funding. we like to see that red ribbon on the front of the white house. joining me is michael elliott, president and ceo of one, the global advocacy organization formed by bono. >> how are you? >> i'
in a moment the fiscal cliff cuts that could affect people in a fight for their lives. you're watching "weekends with alex witt." you're watching weekend with add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male...
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Nov 23, 2012
11/12
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KRCB
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of the half trillion dollars the fiscal cliff is designed to cut in red ink next year, 80% of it comes in the form of higher taxes. under current law, 20% comes from lowering government spending. this is just the first step as part of a $7 trillion effort to cut the debt over the next decade. that has led some to describe what could be coming as a fiscal slope, not a cliff. whatever geological description you prefer, it is on the map for every american. >> susie: a critical issue in this fiscal cliff debate: jobs. if the government cuts spending and rais taxes all at once on january 1, the economy will lose 2.5 million job sylvia hall reports. >> reporter: in this baltimore lab, dr. curt civin researches leukemia in search of a cure. it's hardly a political job, but these days he's keeping a close eye on the federal budget. you see, the sequester-- the severe spending cuts headed our way in january-- could affect him. if it takes affect, it will cut an estimated $2.5 billion from the national institutes of health. dr. civin and researchers like him depend on grants from the institutes
of the half trillion dollars the fiscal cliff is designed to cut in red ink next year, 80% of it comes in the form of higher taxes. under current law, 20% comes from lowering government spending. this is just the first step as part of a $7 trillion effort to cut the debt over the next decade. that has led some to describe what could be coming as a fiscal slope, not a cliff. whatever geological description you prefer, it is on the map for every american. >> susie: a critical issue in this...
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cliff cutting a veteran spending and also what we now know is an exorbitant you know extraordinarily high suicide rate by veterans. well first of all i wanted to mention that on veterans day there's very much an attempt to have it really be a political holiday one that just has kind of slogans that everyone can agree with and no one that will be against. a holiday that says that everything we did and everything we did in the u.s. military was good and just an honorable and therefore we should be appreciated and it's a holiday that tries very hard to cover up the fact that the wars that our veterans especially of this generation have been sent to had people on the other side of those wars and so as we get into the discussion about how veterans today are living here in the united states i think we also have to recognize that there are people on the other side of us foreign policy whose lives were made infinitely worse by the actions of the u.s. military and by u.s. foreign policy and i think we need to recognize those people as well but of course here in the united states of the situat
cliff cutting a veteran spending and also what we now know is an exorbitant you know extraordinarily high suicide rate by veterans. well first of all i wanted to mention that on veterans day there's very much an attempt to have it really be a political holiday one that just has kind of slogans that everyone can agree with and no one that will be against. a holiday that says that everything we did and everything we did in the u.s. military was good and just an honorable and therefore we should...
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Dec 19, 2012
12/12
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CNBC
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if we bridge the fiscal cliff, without too many spending cuts and tax increases, we could have a very good 2013. that is why the heck the stock markets rally. let's go to mark in pennsylvania. >> hey, jim, thank you for having me on your show. i'm a long-term investor with the short-term trading around a core position. um, you know, the stock only a half percent up today, down close to a full percent. the board approving coca cola enterprises, big news today with a repurchase program, and you know, we saw that go up 4.5%. my question to you, is there any relationship between coca cola enterprises and european market? >> not that much. they have specific things that are positive. my charitable trust owns it. it is why we play am i diversified. coke is the ultimate defensive stock. it can not rally in an environment where people think the economy is going to pick up big. let's go to mike in pennsylvania. >> big booyah from shippensburg university. >> what is going on? >> peabody energy. in 2011 australian mining of its growth. operations contributed to half of its growth. recently extre
if we bridge the fiscal cliff, without too many spending cuts and tax increases, we could have a very good 2013. that is why the heck the stock markets rally. let's go to mark in pennsylvania. >> hey, jim, thank you for having me on your show. i'm a long-term investor with the short-term trading around a core position. um, you know, the stock only a half percent up today, down close to a full percent. the board approving coca cola enterprises, big news today with a repurchase program, and...
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Aug 20, 2012
08/12
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KRCB
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.," icag >> tom: by now, you've probably heard of the fiscal cliff, the spending cuts and tax his that go into effect this january if there is no action by congress. while economists say the cliff would solve our national debt problems over the next decade, it might also throw us into a recession. all this week, we're taking a close look at the fiscal cliff and what's at stake. tonight, sylvia hall tackles the defense budget, which faces $500 billion in cuts, and what's at risk for the nation's defense industry. >> reporter: in the early 20th century, johnstown, pennsylvania thrived on steel. with those days long gone, much of this economy has found new life in the u.s. defense industry. j.w.f. industries stands on the site of an old bethlehem steel mill. where workers used to stoke furnaces and weld iron, the 400 employees cut, bend, weld, paint, and assemble high-tech radar systems, vehicle armor, and other equipment for the military and its contractors. c.e.o. bill polacek says it's a re-invention in jeopardy. >> our defense business is about 50% to 60%. if sequestration takes effec
.," icag >> tom: by now, you've probably heard of the fiscal cliff, the spending cuts and tax his that go into effect this january if there is no action by congress. while economists say the cliff would solve our national debt problems over the next decade, it might also throw us into a recession. all this week, we're taking a close look at the fiscal cliff and what's at stake. tonight, sylvia hall tackles the defense budget, which faces $500 billion in cuts, and what's at risk for...
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Nov 28, 2012
11/12
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CNBC
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over this fiscal cliff debate. nobody is cutting spending. everybody is talking about taxes. is the gop losing it's soul and principles? >> no one is being serious in it's debate. the fellow from adi is making sound statements. but he is whistling past the graveyard. there is no problem that the obama budget calls for spending giving us a deficit of $1 trillion per year as far as the eye can see. tax cuts didn't cause this. it is spending that caused this. you go to spending. you have the cpo itself is saying the only way to do this is getting obamacare out of there. what are the republicans starting to say? this will destroy the republican party because the party will have lost it soul. what else differentiates it from the party? >> here is the problem. the republicans have been saying for two years that this tax increase would destroy jobs and hope for a recovery. either they were lying then or if they were going along with it. they were lying now. which is it? >> this is interesting to me. why is the media working with the democrats on this very point about taxes. why is t
over this fiscal cliff debate. nobody is cutting spending. everybody is talking about taxes. is the gop losing it's soul and principles? >> no one is being serious in it's debate. the fellow from adi is making sound statements. but he is whistling past the graveyard. there is no problem that the obama budget calls for spending giving us a deficit of $1 trillion per year as far as the eye can see. tax cuts didn't cause this. it is spending that caused this. you go to spending. you have the...
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Dec 9, 2012
12/12
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CSPAN
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we cannot balance this budget and make the changes we need to make in terms of the fiscal cliff without insuring that we ask the top 1% or 2% to pay their fair share in taxes. they're paying lower income taxes than in almost any time in our history since we implemented income tax. they have had a great deal. president obama said that up for them. -- president bush set that up for them. we ask the wealthy to pay for their fair share. what we had was economic prosperity. when you see the gains they're playing in congress right now, to suggest he could do this with deductions is not true. the math does not add up. the president has to stick to his guns in insuring that it is time for the wealthiest americans to help bail out from this mess. we have to make cuts. they have to be prudent. the president and vice-president do not believe the way to balance the budget is on the backs of the states. if they reduce the commitment to health care, medicare, medicaid and say we will reduce the reimbursement and shift the burden back to the states, the president knows that is not doing anything to ac
we cannot balance this budget and make the changes we need to make in terms of the fiscal cliff without insuring that we ask the top 1% or 2% to pay their fair share in taxes. they're paying lower income taxes than in almost any time in our history since we implemented income tax. they have had a great deal. president obama said that up for them. -- president bush set that up for them. we ask the wealthy to pay for their fair share. what we had was economic prosperity. when you see the gains...
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Nov 27, 2012
11/12
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FOXNEWSW
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is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think going off the fiscal cliff would necessarily be a bad thing? >> it would be a bad thing to raise taxes. it doesn't make sense to me. i don't accept that cutting spending is bad for the economy. i think cutting federal spending, which means less borrowing up here, is go for the economy, but i do think taxes going up is a bad thing for the economy. i agree with half of the equation of the fiscal cliff, but i don't agree if taxes going up is bad for the economy why would we only want half of the taxes to go up? >> greta: that's like the reverse of the democrats. i think senator harry reid thinks it's a
is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think going off the fiscal cliff would necessarily be...
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Sep 11, 2012
09/12
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WRC
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the fiscal cliff is getting put off until after election day. the farm bill that will help with the drought is partially postponed because republicans are pushing for a cut in food stamps. >> the american people are asking to balance this budget. >> reporter: each side blames the other. >> for people that are outside and out of work, they're astonished by the fact that this congress won't do anything. it seems content to kick the can down the road. >> reporter: so what might get passed before the election? nearly one of those short term stop-gap spending bills to keep government going past september 30th. i'm steve handlesman, nbc news, capitol hill. >>> and now here's a look at some other stories making news early today in america. in nebraska, four masked men armed with an ak-47 took over a mini market. they dragged a clerk along the floor as she struggled, then forced her to the cash register to hand over money. they were in and out of the store in less than 90 seconds and they're wanted for at least one other holdup. >>> in california, newly
the fiscal cliff is getting put off until after election day. the farm bill that will help with the drought is partially postponed because republicans are pushing for a cut in food stamps. >> the american people are asking to balance this budget. >> reporter: each side blames the other. >> for people that are outside and out of work, they're astonished by the fact that this congress won't do anything. it seems content to kick the can down the road. >> reporter: so what...
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Dec 31, 2012
12/12
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WBAL
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the spending cuts and tax hikes are expected to take effect. >> the night before the fiscal cliff. the senate gave up until tomorrow. >> there is still time to reach an agreement. >> they dropped the demand to cut social security. >> i am optimistic we can live move legislation and get this averted before tomorrow. >> the taxes will go up on most americans. huge cuts kick in. >> i think it is obvious president obama wants us to go over the fiscal cliff. >> president obama blamed republicans. >> they say the biggest priority is making sure they deal with the deficit in a significant way. they are behaving in a way that they're only priority is that the tax breaks for the wealthiest americans are protected. blacks mitch mcconnell is vowing to find out. -- >> mitch mcconnell is vowing to find out. >> can the senate veteran help congress tumble to a deal on the last day? >> if we do go off the fiscal cliff, congress would be more likely to make a deal. members could claim they are cutting taxes. >> thank you. if america does fall off the fiscal cliff on the first of the year, maryland
the spending cuts and tax hikes are expected to take effect. >> the night before the fiscal cliff. the senate gave up until tomorrow. >> there is still time to reach an agreement. >> they dropped the demand to cut social security. >> i am optimistic we can live move legislation and get this averted before tomorrow. >> the taxes will go up on most americans. huge cuts kick in. >> i think it is obvious president obama wants us to go over the fiscal cliff....
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spending cuts that are from the sequester ation but one going off the fiscal cliff at least start to chip away at this cancer even if we can agree on this being the best solution to do that yes it would i would argue that we did step off the fiscal cliff and we've been in freefall ever since the bush tax cuts and we passed medicare part d. back in two thousand and one to two thousand and three is when all of these events that took place that created this cliff we've really right now like ron paul said in a recent interview we're just trying to determine really how we're going to land and what. we're in freefall we stepped over the cliff there's no way of avoiding this no matter what they do. a temporary solution is put it off into the future it's better to take the bad medicine now and suffer a bit now than to do a temporary patch that's just going to make the total problem larger in the future right and you keep referring to two thousand and one to two thousand and three these are the bush tax cuts it was bush that approved medicare part d. without us paying for it or finding a way
spending cuts that are from the sequester ation but one going off the fiscal cliff at least start to chip away at this cancer even if we can agree on this being the best solution to do that yes it would i would argue that we did step off the fiscal cliff and we've been in freefall ever since the bush tax cuts and we passed medicare part d. back in two thousand and one to two thousand and three is when all of these events that took place that created this cliff we've really right now like ron...
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Aug 24, 2012
08/12
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. >> eric: the report, if we go off the fiscal cliff and cut spending. which means if we do that and there recession and 9% unemployment, if it's obama guess what he does? adds more stimulus. >> andrea: targeted spendin spending. code words. investment. >> eric: got to go. coming up, does this sound familiar? encouraging greedy private equity firm to save oil refinery because it serves his best interest. no. not romney. president obama. we track the newest hypocrisy next. you have can't touch this. >> ♪ you can't touch this ♪ ♪ ♪ i was having trouble getting out of bed in the morning because my back hurt so bad. the sleep number bed conforms to you. i wake up in the morning with no back pain. i can adjust it if i need to...if my back's a little more sore. and by the time i get up in the morning, i feel great! if you have back pain, toss and turn at night or wake up tired with no energy, the sleep number bed could be your solution. the sleep number bed's secret is it's air chambers which provide ideal support and put you in control of the firmness
. >> eric: the report, if we go off the fiscal cliff and cut spending. which means if we do that and there recession and 9% unemployment, if it's obama guess what he does? adds more stimulus. >> andrea: targeted spendin spending. code words. investment. >> eric: got to go. coming up, does this sound familiar? encouraging greedy private equity firm to save oil refinery because it serves his best interest. no. not romney. president obama. we track the newest hypocrisy next. you...
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Aug 23, 2012
08/12
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FOXNEWS
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. >> eric: the report, if we go off the fiscal cliff and cut spending. which means if we do that and there recession and 9% unemployment, if it's obama guess what he does? adds more stimulus. >> andrea: targeted spendin spending. code words. investment. >> eric: got to go. coming up, does this sound familiar? encouraging greedy private equity firm to save oil refinery because it serves his best interest. no. not romney. president obama. we track the newest hypocrisy next. you have can't touch this. >> ♪ you can't touch this ♪ ♪ ♪ people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. ♪ ♪ >> dana: all right. i
. >> eric: the report, if we go off the fiscal cliff and cut spending. which means if we do that and there recession and 9% unemployment, if it's obama guess what he does? adds more stimulus. >> andrea: targeted spendin spending. code words. investment. >> eric: got to go. coming up, does this sound familiar? encouraging greedy private equity firm to save oil refinery because it serves his best interest. no. not romney. president obama. we track the newest hypocrisy next. you...
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Sep 2, 2012
09/12
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WJLA
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cliff with the tax cuts set to expire in january? >> you know things are so bad in washington that people can't even agree if you're going to go over the fiscal cliff or run into it. so i don't see anything happening in the short termrm. if mitt romney wins, they just delay the whole thing in the next six to nine months, with the argument that the president should havche a chance to put t budget together. the interesting thing is if a ama wins, the white house indicates they're going to have negotiions with the republicans, and they're trying to look -- bold enough to go over the fiscal cliff as a bargaining tactic with the republicans. whether it works, gosh, i don't know. >> h do you read the difference between the president and mitt romney in their approach to fixing the deficit? especially when it comes to medicare? do you think either has a chance to repair that? >> well, i hope so because the program is broken. i wrote a column this week suggesting that whoever is going to cut medicare is a real distract, both of them are going
cliff with the tax cuts set to expire in january? >> you know things are so bad in washington that people can't even agree if you're going to go over the fiscal cliff or run into it. so i don't see anything happening in the short termrm. if mitt romney wins, they just delay the whole thing in the next six to nine months, with the argument that the president should havche a chance to put t budget together. the interesting thing is if a ama wins, the white house indicates they're going to...
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Dec 21, 2012
12/12
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FOXNEWSW
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the pentagon from the fiscal cliff cut. as far as the automatic across the board tax hikes are concerned that are part of the fiscal cliff it is now up to senate democrats. here's his statement the house has already passed legislation to stop all of the january 1st tax rate increases and replaces sec quest tore with responsibility spending cuts that will begin to address our nation's crippling debt. the senate must now act. here is the response from the white house. the president will work with congress to get this done. we are hopeful we will be able to find a bipartisan solution that protects the middle class and our economy. after today the entire congress is on christmas vacation returning later next week. we may see turmoil in the market because of this failed vote last night. dow futures are already down this morning. back to you guys. >>> do you luzader, thank you. >> it is time now to entertain this. season two of the x factor has come to a close and the winner is... d tate stevens. >> country singer tate stevens co
the pentagon from the fiscal cliff cut. as far as the automatic across the board tax hikes are concerned that are part of the fiscal cliff it is now up to senate democrats. here's his statement the house has already passed legislation to stop all of the january 1st tax rate increases and replaces sec quest tore with responsibility spending cuts that will begin to address our nation's crippling debt. the senate must now act. here is the response from the white house. the president will work with...
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Nov 10, 2012
11/12
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CNNW
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matter of fact, i think it will strengthen it. >> let's talk about the fiscal cliff, the automatic cuts if washington can't agree on a plan to cut spending and the deficit. president proposed cuts and raising taxes on income over $250,000. republicans thus far said no to the tax increase, although john boehner has said more revenue. should republicans in congress be afraid of a tea party primary if they support a deal that includes tax increases? >> you know, i'm not going to, i'm not going to talk about primaries now because we're just three or four days away from this last election and next one is, obviously, two years away. we have this fiscal cliff to deal with and what i hope is that somehow we can find some common ground and a winning solution for all americans. and, you know, everybody wants to talk about tax increases. well, you know, why don't we close some of these loopholes so that these corporations, ge, apple, others, you know, pay taxes here in this country. because that would bring in some revenue. so, there's other ways to bring revenue instead of just taxing the citizen
matter of fact, i think it will strengthen it. >> let's talk about the fiscal cliff, the automatic cuts if washington can't agree on a plan to cut spending and the deficit. president proposed cuts and raising taxes on income over $250,000. republicans thus far said no to the tax increase, although john boehner has said more revenue. should republicans in congress be afraid of a tea party primary if they support a deal that includes tax increases? >> you know, i'm not going to, i'm...
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Dec 1, 2012
12/12
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CSPAN
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later, nancy pelosi addresses the fiscal cliff and middle- class tax cuts. president obama talked about the so-called fiscal cliff and his proposal to end of the bush tax cuts on those earning more than two and a $50,000. ed -- more than $250,000. ["hail to the chief" plays] please have a seat. have a seat. relax for a second. it is good to see all of you. hello. it is good to be back in pennsylvania. it is good to be right here. i want to thank michael, robert, and the investor, joel glickman for hosting me today and giving me a great tour. stand up so everybody can see you, guys. [cheers and applause] there you go. we have a couple of outstanding members of congress here. [cheers and applause] now, i just finished getting a tour of the workshop. i have to say it makes me wish that joel invented this stuff sooner when i was a kid. back then, you couldn't build a roller coaster out of your erector set. i got a chance to meet some of the folks who have been working around the clock to keep up with the christmas rush. that is a good thing. these guys are santa
later, nancy pelosi addresses the fiscal cliff and middle- class tax cuts. president obama talked about the so-called fiscal cliff and his proposal to end of the bush tax cuts on those earning more than two and a $50,000. ed -- more than $250,000. ["hail to the chief" plays] please have a seat. have a seat. relax for a second. it is good to see all of you. hello. it is good to be back in pennsylvania. it is good to be right here. i want to thank michael, robert, and the investor, joel...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to the right thing? admiral james lyons joins us next. ♪ lou: 31 days until the fiscal clef, the threat of sequestration largely being ignored. automatic spending cuts tohe tune of 1 trillion over ten years, hal coming from our defense budget. joining me now to discuss the impact on our military, nestle security, we are joined by hammer and -- admiral james lyons. they to have you back with us. your thoughts on the impact of sequestration is, indeed, it goes into affect year. >> in the words of the secretary of defense, leon panetta, this will be a disaster. what the obama administration is doing is unilaterally reducing the military capability of our forces. this is at a time when we have china with its massive force expansion, building a world capable force projection capability. we have the russians modernizing the russian forces. we still have the iranian problem totally unr
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to the right thing? admiral james lyons joins us next. ♪ lou: 31 days until the fiscal clef, the threat of sequestration largely being ignored. automatic spending cuts tohe tune of 1 trillion over ten years, hal coming from our defense budget. joining me now to discuss the impact on our military, nestle security,...
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Nov 10, 2012
11/12
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regarding the fiscal cliff. during this briefing, news also broke that cia director david petraeus had resigned due to an extramarital affair. surely after this, president obama released a statement accepting his resignation. this briefing is just under one hour. >> good afternoon, ladies and gentlemen. welcome back to the white house briefing room. it is a pleasure to be back. we have not done this too often of late since we have all been traveling. i want to thank all of you who traveled with us over these past several weeks and months. i know that sometimes grueling. it was certainly part of a remarkable process. just a reminder of the greatness of the country in which we live. before i take your questions, let me give you this announcement. next thursday, the president will travel to new york to the recovery efforts, meet with affected families and local officials, and the brave first responders that have worked tirelessly to protect communities following hurricane sandy. more details about the trip will be
regarding the fiscal cliff. during this briefing, news also broke that cia director david petraeus had resigned due to an extramarital affair. surely after this, president obama released a statement accepting his resignation. this briefing is just under one hour. >> good afternoon, ladies and gentlemen. welcome back to the white house briefing room. it is a pleasure to be back. we have not done this too often of late since we have all been traveling. i want to thank all of you who...
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Nov 9, 2012
11/12
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. >> on january 21st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. >> reporter: so what exactly is the fiscal cliff? it's a nightmare combination of tax hikes and spending cuts that congress and the president agreed to to force themselves into a compromise, but so far they haven't agreed on anything. so barring a last-minute fix at the stroke of midnight on new year's eve the bush tax cuts expire, the alternative minimum tax kicks in, more than half of all married couples with two children would owe and additional $4,000 in taxes a year. for those with three or more children that jumps to $4700. on top of that, the 2011 temporary payroll tax cut would expire. so add on a 2% tax increase for most workers. then there would be automatic spending cuts in 1,000 government programs, including defense, medicare, extended unemployment benefits. everything but veterans benefits, social security, and federal pensions. economists say that combination would act as a brake on the economy throwing it back into recession and could cause a market crash. >
. >> on january 21st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. >> reporter: so what exactly is the fiscal cliff? it's a nightmare combination of tax hikes and spending cuts that congress and the president agreed to to force themselves into a compromise, but so far they haven't agreed on anything. so barring a last-minute fix at the stroke of midnight on new year's eve the bush tax cuts expire, the alternative minimum tax kicks in,...
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Dec 26, 2012
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president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide exchange." >>> good morning and welcome to a special edition of "worldwide exchange." i'm jackie deangelis along with seema mody. ross and kelly are off for boxing day. they'll be back tomorrow. >> that's right. >>> let's get a brief check on the markets this morning. energy and metals are trading at this hour on the nymex. you see crude oil up .6%. brent crude also up. and take a look t yellow metal, gold. down just fractionally. now u.s. futures will begin trading in about a half-hour. the cme globex has been closed for christmas and will reopen at 6:00 a.m. eastern time. that also goes for treasuries and the foreign exchange market. >>> as for the action in the overseas market, the youu.k. is closed for boxing day as ar
president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide exchange." >>> good morning and welcome to a special edition of "worldwide...
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Jul 26, 2012
07/12
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"outfront" tonight, playing chicken with the fiscal cliff. today the senate appeared to take action on extending the bush era tax cuts. appeared being the keyword. senator majority leader mitch mcconnell announced he would not filibuster the measure. instead he allowed a straight up-or-down majority wins vote. the republican plan, extend the tax cuts for everyone. and president obama's plan, extend the cuts for 98% of americans, how olds making under $250,000 a year. why would senator mcconnell do such a thing? >> the only way to force people to take a stand is to make sure that today's votes truly count, by setting these shoet votes at a 50-vote threshold, nobody on the other side can hide behind a procedural vote while leaving their views on the actual bill itself a mystery, a simple mystery to the people who sent them here. >> and tonight, we now know where everyone stands. the democrats' bill narrowly passed, 51 to 48. with two democrat, joe lieberman and jim webb opposing. the republicans' plan failed. the vice president was there himsel
"outfront" tonight, playing chicken with the fiscal cliff. today the senate appeared to take action on extending the bush era tax cuts. appeared being the keyword. senator majority leader mitch mcconnell announced he would not filibuster the measure. instead he allowed a straight up-or-down majority wins vote. the republican plan, extend the tax cuts for everyone. and president obama's plan, extend the cuts for 98% of americans, how olds making under $250,000 a year. why would senator...
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Sep 28, 2012
09/12
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cliff, the spending cuts and tax hikes that will kick in next year if congress and the administration can't end the rancor and agree on how to handle the deficit. the ratings agency fitch said today uncertainty about u.s. fiscal policy is the single biggest near-term threat to the global recovery. when you see washington act the way it's been acting, does it make you more cautious? hr of course. >> reporter: bayard winthrop launched american giant, a new men's clothing business in san francisco this year. but the indecision in washington, he says, is holding him back. >> it doesn't breed a lot of optimism. so we're hiring, but we're not hiring as aggressively as i think we would be if i had real confidence that we were on a pathway towards growth nationally. >> reporter: so in effect, washington is undermining the ionomy. >> i think that the lack of substantial and positive debate is undermining the economy. >> reporter: one piece of good news today, weekly first-time unemployment claims dropped to a two-month low. bor the labor department says the economy actually added nearly 400,00
cliff, the spending cuts and tax hikes that will kick in next year if congress and the administration can't end the rancor and agree on how to handle the deficit. the ratings agency fitch said today uncertainty about u.s. fiscal policy is the single biggest near-term threat to the global recovery. when you see washington act the way it's been acting, does it make you more cautious? hr of course. >> reporter: bayard winthrop launched american giant, a new men's clothing business in san...
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Nov 14, 2012
11/12
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tonight i want to talk to dave cote about the fiscal cliff because he is on the steering committee of the fix the debt campaign and he is spearheading it. welcome back to "mad money." >> always great to see you. >> welcome to the radical middle. >> yeah, hey, radical middle. that is what it is. when we talk about rise above into the radical middle. you are seeing the president tomorrow. what are you going to say to him? >> we have the worst debt problem we have had in over 200 years, since the revolutionary war, with the exception of ww ii. democrats and republicans have to work together. we have to come up with a $4 trillion plan, and with a simpler tax system with entitlement programs that have to get reformed. and some discretionary spending cuts, and they need to get this done. i believe that if they were to do something like go off the fiscal cliff, it could promote a much bigger crisis and recession. this could be a conflagration that we can't predict where it is going to go. that is silly. right, on the other side of it, i think there is a potential for a robust recovery that e
tonight i want to talk to dave cote about the fiscal cliff because he is on the steering committee of the fix the debt campaign and he is spearheading it. welcome back to "mad money." >> always great to see you. >> welcome to the radical middle. >> yeah, hey, radical middle. that is what it is. when we talk about rise above into the radical middle. you are seeing the president tomorrow. what are you going to say to him? >> we have the worst debt problem we have...
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Dec 8, 2012
12/12
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the fiscal cliff would affect 27 million american families. there are other parts of this. when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to do something until we do it. >> the to go to the broader concern. does the top rate have to end the 39.6% the way it was under bill clinton? could be democrats accept something between if it was coupled with a reduction in the ability on the top 2% to except a reduction of deductions? >> i do not want to second-guess what we might decide. i do not think that is what we should debate the right now. multimillionaires and what deductions they can take is something different. this is where we are. >> that is in
the fiscal cliff would affect 27 million american families. there are other parts of this. when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in...
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Dec 1, 2012
12/12
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go to oralb.com for the latest offers. >>> the fiscal cliff means a lot of things are on the cutting block right now. one involves the most dependable of cuts are mortgages. >> you basically have 270 degrees of pure ocean. >> amazing views, luxury bathrooms and a gourmet kitchen. the owner of this $8 million penthouse in coconut grove, florida is eager to sell it before the end of the year. capital gains taxes will go up for homeowners with a lot of equity in their homes selling now could make a big difference. >> if you're looking at a $10 million sale price and 5 mill$5 million equity in the home, the capital gains is $5 million. in theory, there's a half a million dollar savings for seller and buyer to get the deal done. >> some possible outcomes of the fiscal clif negotiations could have a major impact on you. congress could limit the amount of home mortgage interest homeowners could write off on their taxes. one proposal would cap the deduction at $500,000, half of what it now is. lawmakers also may limit tax breaks for second homes. distressed homeowners also could see major ch
go to oralb.com for the latest offers. >>> the fiscal cliff means a lot of things are on the cutting block right now. one involves the most dependable of cuts are mortgages. >> you basically have 270 degrees of pure ocean. >> amazing views, luxury bathrooms and a gourmet kitchen. the owner of this $8 million penthouse in coconut grove, florida is eager to sell it before the end of the year. capital gains taxes will go up for homeowners with a lot of equity in their homes...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. want to trto crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share wi
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. want to trto crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? ca this congress and this president figure out how to do the right thing? admiral james lyons joins us next. ♪ ♪ here come the -- [ cap twisting off ] hey, yo?! i lost audio. what happened?! [ ice crackling ] what!?! oh, it better not be! what's going on? ♪ it's time to put a stop to this! yay-e, yay-e! [ male announcer ] the coors light silver bullet pint. it's bigger. it's resealable. it's still the coldest. ♪ get out of my booth!!! [ male announcer ] frost brewed coors light. the world's most refreshing beer. at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and af
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? ca this congress and this president figure out how to do the right thing? admiral james lyons joins us next. ♪ ♪ here come the -- [ cap twisting off ] hey, yo?! i lost audio. what happened?! [ ice crackling ] what!?! oh, it better not be! what's going on? ♪ it's time to put a stop to this! yay-e, yay-e! [ male announcer ] the coors light silver bullet pint. it's...
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Dec 11, 2012
12/12
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in about 45 minutes, we will continue to look at the so- called fiscal cliff and the budget cuts that take place in january. after that, we will examine the po
in about 45 minutes, we will continue to look at the so- called fiscal cliff and the budget cuts that take place in january. after that, we will examine the po